Saudi Arabia is preparing to deliver large volumes of oil to Europe, which is much cheaper than Russian raw materials, Bloomberg reported referring to sources familiar with the situation.

According to them, Saudi Arabia promises oil supplies to European oil refineries, which are three times higher than the usual volumes of supplies of raw materials from the kingdom to Europe.

Oil supplies from Saudi Arabia, coupled with unprecedented discounts on it, are turning the European oil market into the most important area of redistribution of interests in the price war between Riyadh and Moscow. 

“Saudi Arabia is offering its flagship Arab Light crude into Rotterdam for roughly $25 a barrel, a massive discount to the price of Russia’s Urals,” the source noted.

According to sources, European refineries, including companies such as Royal Dutch Shell, BP, Total, OMV, Repsol and Cepsa, received proposals from Saudi Aramco for limits on oil supplies, which significantly exceed traditional volumes. 

“The range of extra supplies was between 25% and 200%, depending of the company, the same people said,” the source said.